Finance News
By Julie Binoche
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The former FTX boss filed papers on February 10 asking for a brand new trial after getting slammed with fraud convictions that could land him behind bars for decades.
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Bankman-Fried's defense team says procedural errors wrecked any chance of a fair trial. They're pushing hard for transparency, arguing the court made mistakes that basically…
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The jury didn't take long to find Bankman-Fried guilty on wire fraud and conspiracy charges.
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FTX's collapse was wild to watch. The exchange went from a multi-billion dollar valuation to bankruptcy in what felt like days.
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Bankman-Fried's legal team isn't giving up though. They're throwing everything at the wall, hoping something sticks.
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The case grabbed headlines for months, shining a spotlight on problems in the crypto world. Regulators are paying attention now, and calls for reform keep getting louder. The U.S.
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Meanwhile, FTX's bankruptcy mess keeps getting messier. Creditors and investors are watching closely, hoping to recover something from the wreckage.
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The defense claims critical evidence got excluded during the original trial. They say this evidence could've changed the jury's mind, though they haven't spelled out exactly what…
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Caroline Ellison's testimony on February 8 was brutal for Bankman-Fried. The former FTX executive detailed schemes that allegedly misled investors and regulators.
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The Department of Justice isn't done either. DOJ officials said on February 9 they're looking at more transactions related to FTX's collapse.
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And the SEC piled on February 5 with more civil charges. They're saying Bankman-Fried violated securities laws by lying about FTX's financial health.
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FTX's bankruptcy trustee John Ray III is set to update creditors on February 15 about asset recovery efforts.
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The crypto market is still feeling the effects. Investors remain nervous about exchanges after seeing how quickly FTX went down.
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Judge Kaplan hasn't set a hearing date for the new trial motion yet. Bankman-Fried sits in custody while his legal status hangs in limbo.
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His defense team faces mounting pressure to build a solid case for why he deserves another trial.
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